Detailed Single Year Tables

Description of Proposed Provision:
Eliminate the taxable maximum in years 2016 and later, and apply full 12.4 percent payroll tax rate to all earnings. Do not provide benefit credit for earnings above the current-law taxable maximum.

&nbsp

Financial Estimates for the OASDI Trust Fund Program

&nbsp

&nbsp

Proposal

&nbsp

Change from Present Law

&nbsp

Expressed as a percentage of present-law taxable payroll

Trust fund ratio as of January 1

Expressed as a percentage ofpresent-law taxable payroll

Calendaryear

Costrate

Incomerate

Annualbalance

Costrate

Incomerate

Annualbalance

2015

14.13

12.82

-1.31

308

0.00

0.00

0.00

2016

13.88

15.27

1.39

298

0.00

2.39

2.39

2017

13.89

15.36

1.47

297

0.00

2.45

2.45

2018

13.96

15.37

1.41

297

-0.01

2.43

2.44

2019

14.08

15.37

1.29

297

-0.01

2.42

2.42

2020

14.22

15.36

1.14

297

-0.01

2.40

2.40

2021

14.34

15.36

1.03

297

-0.01

2.38

2.39

2022

14.51

15.38

0.87

296

-0.01

2.37

2.37

2023

14.72

15.37

0.65

294

-0.01

2.34

2.35

2024

14.95

15.38

0.43

292

-0.01

2.31

2.32

2025

15.15

15.39

0.24

290

-0.01

2.31

2.32

2026

15.35

15.41

0.06

287

-0.01

2.31

2.33

2027

15.54

15.43

-0.12

285

-0.01

2.31

2.33

2028

15.73

15.44

-0.29

283

-0.01

2.32

2.33

2029

15.91

15.46

-0.46

281

-0.02

2.32

2.33

2030

16.08

15.47

-0.61

279

-0.02

2.32

2.33

2031

16.22

15.48

-0.74

277

-0.02

2.32

2.34

2032

16.35

15.49

-0.86

274

-0.02

2.32

2.34

2033

16.45

15.50

-0.95

271

-0.02

2.32

2.34

2034

16.53

15.51

-1.02

267

-0.02

2.32

2.34

2035

16.59

15.52

-1.08

264

-0.03

2.32

2.35

2036

16.65

15.52

-1.13

260

-0.03

2.32

2.35

2037

16.69

15.53

-1.16

256

-0.03

2.32

2.35

2038

16.70

15.53

-1.16

252

-0.03

2.32

2.35

2039

16.69

15.54

-1.16

248

-0.03

2.32

2.36

2040

16.68

15.54

-1.14

245

-0.04

2.32

2.36

2041

16.65

15.54

-1.11

241

-0.04

2.32

2.36

2042

16.62

15.54

-1.09

238

-0.04

2.32

2.36

2043

16.60

15.54

-1.06

235

-0.04

2.32

2.37

2044

16.57

15.54

-1.03

232

-0.05

2.32

2.37

2045

16.55

15.54

-1.01

229

-0.05

2.32

2.37

2046

16.52

15.54

-0.98

226

-0.05

2.33

2.38

2047

16.51

15.54

-0.96

223

-0.05

2.33

2.38

2048

16.49

15.54

-0.95

220

-0.05

2.33

2.38

2049

16.48

15.55

-0.94

218

-0.06

2.33

2.38

2050

16.48

15.55

-0.93

215

-0.06

2.33

2.39

2051

16.49

15.55

-0.94

212

-0.06

2.33

2.39

2052

16.51

15.55

-0.96

209

-0.06

2.33

2.39

2053

16.54

15.56

-0.98

206

-0.07

2.33

2.40

2054

16.57

15.56

-1.01

202

-0.07

2.33

2.40

2055

16.62

15.56

-1.05

198

-0.07

2.33

2.40

2056

16.67

15.57

-1.10

194

-0.07

2.33

2.40

2057

16.72

15.57

-1.14

190

-0.08

2.33

2.41

2058

16.77

15.58

-1.19

185

-0.08

2.33

2.41

2059

16.82

15.58

-1.24

180

-0.08

2.33

2.41

2060

16.87

15.59

-1.28

175

-0.08

2.33

2.42

2061

16.92

15.59

-1.33

169

-0.08

2.34

2.42

2062

16.97

15.60

-1.38

164

-0.09

2.34

2.42

2063

17.02

15.60

-1.42

157

-0.09

2.34

2.42

2064

17.07

15.60

-1.47

151

-0.09

2.34

2.43

2065

17.13

15.61

-1.52

144

-0.09

2.34

2.43

2066

17.18

15.61

-1.57

137

-0.09

2.34

2.43

2067

17.24

15.62

-1.62

130

-0.09

2.34

2.43

2068

17.30

15.62

-1.67

122

-0.09

2.34

2.44

2069

17.35

15.63

-1.72

114

-0.09

2.34

2.44

2070

17.41

15.63

-1.77

105

-0.09

2.35

2.44

2071

17.46

15.64

-1.82

96

-0.10

2.35

2.44

2072

17.50

15.64

-1.86

87

-0.10

2.35

2.44

2073

17.54

15.65

-1.89

78

-0.10

2.35

2.45

2074

17.57

15.65

-1.92

68

-0.10

2.35

2.45

2075

17.59

15.65

-1.93

58

-0.10

2.35

2.45

2076

17.60

15.65

-1.94

48

-0.10

2.35

2.45

2077

17.61

15.66

-1.95

38

-0.10

2.35

2.45

2078

17.61

15.66

-1.95

28

-0.10

2.35

2.45

2079

17.61

15.66

-1.95

17

-0.10

2.36

2.45

2080

17.61

15.66

-1.95

7

-0.10

2.36

2.46

2081

17.62

15.66

-1.96

----

-0.10

2.36

2.46

2082

17.63

15.66

-1.97

----

-0.10

2.36

2.46

2083

17.65

15.67

-1.98

----

-0.10

2.36

2.46

2084

17.68

15.67

-2.01

----

-0.10

2.36

2.46

2085

17.71

15.67

-2.04

----

-0.10

2.36

2.46

2086

17.75

15.68

-2.07

----

-0.10

2.36

2.46

2087

17.79

15.68

-2.11

----

-0.10

2.37

2.46

2088

17.83

15.68

-2.15

----

-0.10

2.37

2.46

2089

17.87

15.69

-2.19

----

-0.10

2.37

2.47

2090

17.92

15.69

-2.23

----

-0.10

2.37

2.47

&nbsp

Summarized Estimates

&nbsp

&nbsp

Proposal

&nbsp

Change from Present Law

Years

Costrate

Incomerate

Actuarialbalance

Year of reserve depletion1

Costrate

Incomerate

Actuarialbalance

Based on Intermediate Assumptions of the 2015 Trustees Report.

2015-2089

16.49%

16.17%

-0.32%

2080

-0.05%

2.31%

2.36%

&nbsp

1 Under present law, the year of Trust
Fund reserve depletion is 2034.